The economy of the People's Republic of China was the 4th largest in the world in 2005, measured at approximately US $2.22 trillion, which is approximately 18% of the US economy.
It is the second largest in the world when measured by Purchasing Power Parity, with a GDP (PPP) of US $9.412 trillion in 2005. It is the world's fastest growing major economy, and its continued growth is critical to the overall health of the world economy and to the welfare of its population of 1.3 billion.
Its per capita GDP in 2005 was approximately US $1,529 (US $7,204 with PPP), still low by world standards, but rising rapidly. As of 2005, 70% of China's GDP is in the private sector.
The smaller public sector is dominated by about 200 large state enterprises concentrated mostly in utilities, heavy industries, and energy resources.
For more details on the economy of China, refer to the following topics: